Paytm launches personal loan service, now you can get a loan of up to Rs 2 lakh in just 2 minutes

The loan will be based on credit score and purchase pattern

You can repay this loan in EMI of 18-36 months

Paytm, a digital payment service platform, has launched an instant personal loan service. Paytm's service can be availed 365 days a year, so you can also apply for this loan on holidays. The loan will be provided by NBFC and banks.

You can get a loan of up to Rs 2 lakh in just 2 minutes

Under Paytm's personal loan service, you can get a loan in just 2 minutes at any time of the year 365 days. It can get an instant loan of up to Rs 2 lakh. The loan will be based on credit score and purchase pattern. You can repay this loan in 18-36 months EMI.

Agreed with banks and NBFC

Paytm has entered into agreements with several banks and NBFCs for this service. The company is now planning to have more than 1 million users by the end of the financial year to avail personal loan services from the platform.

Paytm will provide a loan of Rs.1000 crore to MSME till 2021. In addition, Paytm is also providing financial assistance to MSME. Under this, the company aims to provide a loan of Rs 1,000 crore by 2021. The company is offering collateral-free loans to customers on the Paytm for Business app under the Merchant Lending Program.

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